Amazon Wholesale India's Loss Narrows Significantly

Amazon Wholesale India's loss decreased by 44% to Rs 342.3 crore in FY24 from Rs 615.7 crore in FY23, despite a slight decline in revenue to Rs 3,576.7 crore. The company reported a total income of Rs 3,614 crore and total expenses of Rs 3,959 crore, with share allocation to parent entities worth Rs 1,400 crore.

Amazon's B2B division, Amazon Wholesale (India), has reported a significantly narrowed loss of Rs 342.3 crore for the fiscal year 2023-24, a notable 44% improvement from the Rs 615.7 crore loss in the previous year, as detailed in a Tofler report released on Tuesday.

The company's revenue from operations saw a slight decline, standing at Rs 3,576.7 crore for FY24, a decrease from Rs 3,600.5 crore in the fiscal year 2023. Furthermore, Amazon Wholesale India's total income was reported at Rs 3,614 crore with net expenses amounting to Rs 3,959 crore.

In the financial reporting period, Amazon Wholesale India allocated shares valued at Rs 1,400 crore to its parent group entities, reflecting ongoing strategic financial maneuvers within the conglomerate.

(With inputs from agencies.)